Grab your earbuds and fill your head with knowledge from blockchain innovators. IT spend in South Africa is forecast to increase at a higher pace than the economy in 2020. 2021 The Exchange - Powered by MediapixManaged by Supported by Digihandler. This blockchain solution can help turn any developer into a blockchain developer. As the top-ranked blockchain services provider, IBM Blockchain Services has the expertise to help you build powerful solutions, based on the best technology. Such a lack of evidence may be due to the difficulty policymakers have had in regulating cryptocurrency, mainly because they are not certain about classifying it since it exhibits characteristics of being both an asset and a currency (medium of exchange). Polygon Price Prediction as MATIC Shoots Up 7% Despite Wider Market Struggles, Genesis Has $2.8 Billion in Outstanding Loans, Parent Company DCG Was Lent Substantial Amounts - Heres What You Need to Know, Bitcoin Price Prediction as FOMC Minutes Blast BTC Into Bullish Territory. The workshop has a focused preparation phase. The blockchain-based system is unique because it allows third parties, such as prospective employers, to verify a graduates certificate. Money Deals She will be explaining the recently launched Project Khokha2, completed in collaboration with @FintechHubSA pic.twitter.com/2Azh2UcEH9, SA Reserve Bank (@SAReserveBank) April 14, 2022. How Can Blockchain Save South Africa From Nationwide Blackouts? Bitcoin uses blockchain technology as its transaction ledger. When building an enterprise blockchain application, its important to have a comprehensive security strategy that uses cybersecurity frameworks, assurance services and best practices to reduce risks against attacks and fraud. In other words, the data is not controlled by a single individual due to the immense computational power required, as well as the increasing complexity which takes place the more centralised the process seems to become. WebSave Traders Fair 2023 - South Africa, Johannesburg (Financial Event) to your collection. Even the Central Bank of Nigeria has shown great interest in Blockchain technology and is constantly on the lookout for new stakeholders and investors. To help organisations navigate this fast-changing sector, PwC provides a comprehensive ICO solution. Advertise Cybersecurity awareness does one size fit all? View the quick-start guide for developers. BlockChain is an aspect of FinTech that will allow people to cut out the middleman and the associated cost. UABA, a non-profit organization based in South Africa is committed to promoting the adoption of blockchain technology in Africa. Crypto Valley Venture Capital (CV VC) report South Africa as amongst biggest Blockchain markets in Africa. Webthat provide Blockchain Services! Record-keeping systems can be vulnerable to fraud and cyberattacks. Insurance Adding to this, they must also tolerate controlled and scheduled electricity shutdowns load shedding where power is intentionally apportioned to relieve pressure on the system and avoid its complete collapse. An initial coin offering (ICO) or a token sale is when a company sells a pre-defined number of digital tokens to the public in a limited period of time. This cookie is set by GDPR Cookie Consent plugin. Megatechs Head of Marketing Willie Bischoff recites how hard it can be to acquire funding as a blockchain project this process can take up to 8 yearsand cost up to $2m which is done at risk. mode: 'thumbnails-rr', Hear how blockchain is helping individuals take back control of identity, fight global poverty and pollution, and much more. The conference focuses on blockchain technologys opportunities and use cases globally and in Africa, the second most populated continent in the world with about 1.3 billion people. Innovators, entrepreneurs and forward-thinking enterprises are embracing IBM Blockchain solutions to bring revolutionary trust and transparency to supply chains, global trade, international payments, the worlds food supply and much more. The IBM Blockchain Platform can change the way your ecosystem ensures trust, data provenance and efficiency to improve patient care and profitability. As a result, losses incurred by businesses and the freeze time for companies get minimized. Please see www.pwc.com/structure for further details. There is a lack of enough universities to administer high school graduates in the continent, a higher preference for overseas education and fake certificates that trash the ability to discern genuine qualifications in the market. With a distributed ledger that is shared among members of a network, time-wasting record reconciliations are eliminated. target_type: 'mix' Healthcare Blockchain-based technology can help create this reality. At a very high level, a blockchain is a decentralised ledger, or list, of all transactions across a peer-to-peer network. Blockchain is distinct from bitcoin, which is merely one application of the technology. Bitcoin has been a proving ground for the underlying blockchain technology. The inaugural African Blockchain Report, published Register to download the IBM Blockchain Platform white paper, Get the details on Hyperledger Fabric and discover whats unique about it, why it matters to business networks and how to start using it. Although, there are have been many warnings from the Bank of Uganda towards the potential risk that cryptocurrencies possess, the development of Blockchain in Uganda is quite evident. This means you have more flexibility when choosing where to deploy your blockchain network components, whether on-premises, in public clouds, or in hybrid cloud architectures. Data that everyone can believe in will help power other new technologies that dramatically increase efficiency, transparency and confidence. When it comes to Blockchain friendly countries, South Africa has been home to a few of the interesting Blockchain projects. Opinion, Kenya This impossibility to corrupt is continually being further complicated by the growing number of blocks in the chain due to the sheer number of transactions which are recorded with an unchangeable signature called a hash. But it is also defined by emerging trends in the decentralisation of financial transactions. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Rwanda The sensitization of these scammers is necessary if at all these advancements will succeed on the continent. Among others, these benefits include combatting corruption, electoral fraud, and bureaucratic inefficiency in record keeping. Though there is still a long way to go, as the country is still in need of certain clear regulations with respect to Blockchain technology. We work with these consortiums to explore both how blockchain technology can change their industry, and also to create the mechanism for the required collaboration. This has been a significant setback for regulators. Second, it has peer-to-peer transmission through which every party may verify the transactions taking place without the need of an intermediary or middle man, which are usually in the form of banks. Premium Stories It focuses beyond the traditional fintech and cryptocurrency use cases to tackle many challenges in the country. Kustur polje bb. Oil and gas - 2022 PwC. What needs to change: Operations often waste effort on duplicate record keeping and third-party validations. The journey has only just begun. Blockchain Entrepreneurs Club South Africa is a And because members share a single view of the truth, you can see all details of a The method has many applications, some of which are already known but many of which may be yet to be discovered far beyond the management of payments. SANBA is a catalyst for the widespread adoption of blockchain and distributed ledger technologies in South Africa, across the public and private sectors. South Africa Is Quickly Becoming The Center For Blockchain Startups In Africa. Although the general state of the economy has a direct impact on the growth of the ICT sector, its customers continue to invest in technology and the sector consistently shows a growth rate that is higher than GDP. March 17, 2022. We also use third-party cookies that help us analyze and understand how you use this website. We provide clients with the right skills and competencies to launch and operate a successful digital token and ICO. SANBA drives blockchain adoption in South Africa. Dubbed The current system relies on a central securities depository (CSD) which acts as a single source of truth for recording and determining ownership of securities. While the technology is profound, other solutions, such as cloud technology, may be more appropriate; the right conditions are needed for blockchain to be successful. The cookie is used to store the user consent for the cookies in the category "Analytics". From alandmark project that trialled blockchain and tokenization, government researchers determined that the technology was a new way to transfer value on a P2P basis without a trusted third party, and could allow ownership of securities to be reflected on a single shared ledger accessible, across multiple nodes., [THREAD]Meet Lyle Horsley Head of SARB's Fintech Unit. Now with the support from a number of institutions, Megatech is bringing solar & blockchain technology to South Africa and using it to improve the economy and the lives of its citizens. The Blockchain Academy did a great job of presenting South Africas first blockchain short course on Ethereum in 2016. I would recommend anyone interested to learn more about blockchain technology to attend any of their courses. I have been impressed with their sector knowledge and their network of expertise. At Libertas, our expertise and experience serve a single purpose. The former are products of advances in artificial intelligence (AI) and machine learning (ML), 3D printing (additive manufacturing), 5G networks, and the Internet of Things (IoT). This is a consideration for the World Trade Organization (WTO) in particular. Learn how the decentralized nature of blockchain sets it apart from traditional record-keeping, the value of a permissioned blockchain for business transactions, and how blockchain promotes new levels of trust and transparency. As a GPT, blockchain has the potential to provide a foundation for new future technologies and other applications when combined with the other 4IR technologies. With blockchains decentralized nature, information is kept on every device on the network instead of storing it on a single centralized server. Burundi Learn how it can trace when, where and how food has been grown, picked, shipped and processed all while protecting network-participant data. Based on this, a highly customised 2-3 day workshop is conducted, focused on learning, exploring, and planning. Moreover, there are potential uses to which blockchain can be implemented for the benefit of government and citizens. Lost your password? Weve been reading about the promise of blockchain technology for several years now. Industry leaders are using IBM Blockchain to remove friction, build trust and unlock new value. Viegrad, Bosnia and Hercegovina. Smart contract concepts and the potential adoption of Internationally, three broad camps have emerged: some advance the elimination of blockchain, some advocate maintaining it but with greater scope for regulation, while others are more or less in favour of the status quo. What does blockchain mean for my business, my industry? Bulevar Vudroa Vilsona 8a. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Industry & Trade It has also gained traction as a method of ensuring the integrity of ballots in elections. Since 2018, the South Africa Reserve Bank has been spearheading a project to research potential use cases for blockchain technology in the financial system. These countries fall under the classification because of their highly-developing economies. The conference will also cover the potential challenges of implementing DLT and blockchain solutions in South Africa, including how a lack of effective regulation could lead to bad actors bypassing conventional regulations. The country also hosts a conference every year, on Blockchain technology. Media and advertising The South African learning institution report has said it will issue blockchain-based certificates to its graduates in 2022. For a few hours each day, electricity will be available and the details of the ration are communicated in advance. University of Johannesburg, Johannesburg 3. Analytical cookies are used to understand how visitors interact with the website. Traders Fair 2023 - South Africa, Johannesburg (Financial Event) Sat, Sep 16, 10:00 AM PROGRAMME. So far, no country has met this threshold. INBLOCK issues Metacoin cryptocurrency, which is based on Hyperledger Fabric, to help make digital asset transactions faster, more convenient and safer. The African continent has the perfect combination of factors contributing to the adoption of blockchain technology, which in turn will rapidly escalate the transformation of its nations welfare, wealth, and global standings. By linking in government, academia, the private sector and civil society, it creates a pre-competitive space for research, development and innovation in blockchain technology. Furthermore, in an answer to South Africas energy problem, MGT offers token holders financial returns on solar plants owned by the company. South Africa, Brazil, and India. In early 2022, South Africa will have a regulatory framework for cryptocurrencies. We develop bespoke solutions for clients who require Bitcoin and other She has been in this team for the last three years of her career and also support the blockchain education initiatives in the centre of excellence. He started his career as an Economist and later joined Standard Bank in 1996 in the Treasury Audit Department. Traders Fair 2023 - South Africa, Johannesburg (Financial Event) Sat, Sep 16, 10:00 AM How do we provide assurance on this technology. At a very high level, a blockchain is a decentralised ledger, or list, of all transactions across a peer-to-peer network. Enter blockchain. Explore our informational guides to gain a deeper understanding of various aspects of blockchain such as how it works, ways to use it and considerations for implementation. SANBA leverages the power of the collective by using the blockchain ecosystem as a lobbying platform to tackle issues blocking blockchain adoption in South Africa. Businesses who set up a private blockchain will generally set up a permissioned blockchain network. Have a tip? Tanzania Given its numerous applications, blockchain has ample implications for the global economy. From KYC/AML controls, tokenomics, tax implications to strategy and product design - we provide end-to-end ICO support. This places restrictions on who is allowed to participate in the network and in what transactions. The way that multiple parties can interact on a blockchain enables industry level solutions that were previously not possible. These cookies ensure basic functionalities and security features of the website, anonymously. There is no third party to regulate crypto trading, making the situation even worse. You also have the option to opt-out of these cookies. Join thousands of others readers and stay up to date with the latest News, , the two officials have indicated that digital ledger technology (blockchain) could trim inefficiencies in the incumbent securities management system., Your go to resource for worldwide current affairs and news, Start typing to see results or hit ESC to close, [MEETUP: NOVEMBER 23, 2022, NAIROBI, KENYA] EMURGO Africas Adaverse to Hold Blockchain Founders Hangout to Promote Cardano Among Kenyan Startups, Ripple and MFS Africa Partner to Enable Low Cost Remittances Across 35 African Countries, US Federal Reserve Begins Testing the Digital Dollar with Key Global Banks, EXPLAINER GUIDE: How To Set Up Your Valora Crypto Wallet in 3 Quick Steps, 4 Leading Web3 Browsers to Protect your Privacy, Adaverse Looks to Invest in 300 African Startups in the Next 3 Years, Nigeria Unveils Newly Re-Designed Bank Notes The First Time in 19 Years Redesigning the Naira, Safaricom Ethiopia Generates Over $800K in its First Month in Operation Adding 20K Subscribers Daily, Nigerian P2P App, CashLink, Now Lets Customers Deposit and Withdraw Naira on Binance, FTX Planned to Set Up an Office in Nigeria Before Going Bankrupt Had Acquired Over 100K African Users, CV Labs to Introduce African Startups to the Polygon Ecosystem in New Partnership, South African Exchange, VALR, Goes Live in Zambia with Zambian Kwacha Trading Pairs, The Kenya Capital Markets Bill 2022 Seeks to Introduce and Impose Taxation on Crypto Transactions, Exchanges, and Wallets, Egyptian BNPL Platform, Blnk, Raises $32 Million to Expand Point of Sale Loans, How Decentralized Finance is Shaping the Future of Banking, Chipper Cash to Acquire Zambian Agency Fintech, Zoona, in First Major Acquisition, US Treasury Recommends Vigilant Monitoring of Crypto Sector to Safeguard Consumers and Investors, Nigerias Paystack Gets Payment Service Provider Licence from the Central Bank of Kenya, Modus Expands to Africa with $75 Million Fund to Invest in Early Stage Blockchain and AI Startups, Kenyas Data Protection Office to Investigate Public Data Abuse Complaints Against 54% of Digital Lenders, Nigeria Inflation Rises to 21% in October 2022, Just 4 Countries Attract 92% of Tech Investment in Africa. WebBlockchain technology has become the latest disruptive force that senior-level financial executives need to consider when creating long-term plans. Professor Tshilidzi Marwala, is Vice-Chancellor and Principal of the University of Johannesburg (UJ) and Deputy Chairperson of the South African Commission on the Fourth Industrial Revolution. CSIR Conference 2022 Unlocking the benefits of blockchain in South Africa, What the law says about bosses demanding a return to the office in South Africa, 7 tips for first-time homeowners in South Africa, How much it costs to pay your way out of South Africa, Home school warning for South Africa: report, Reach 850,000 South African business owners in one place, Beat the Blackout Friday blues by investing in smart tech, Digital Innovation: On the frontier of financial and digital inclusion in Sub-Saharan Africa. In a trading world with more than 600 cryptocurrency exchange platforms, the lack of a defined reference point of knowledge and over 10,000 altcoins and cryptocurrencies makes it quite challenging to know what is true and what is not. These blocks form a chain of data as an asset moves from place to place or ownership changes hands. But for more than 1 million readers, the IBM Blockchain Pulse Blog is one of the most trusted sources for blockchain thought leadership and insights. On the continent, these are Algeria, Egypt, Lesotho and Morocco. This will reduce the preference of African students for overseas universities and encourage students to take their studies seriously. Blockchain is a shared, immutable ledger for recording transactions, tracking assets and building trust. Blockchain isnt a cure-all, but there are clearly many problems for which this technology is the ideal solution. Halal blockchain of South-East Asia ensures Food authenticity. On the contrary, the growing technology around cryptocurrencies and blockchain attracts a handful of scammers. The African continent has the perfect combination of factors contributing to the Step inside the basics of blockchain technology: how blocks contain data representing anything of value, how theyre chronologically connected in an immutable chain, and the differences between blockchain and cryptocurrencies such as Bitcoin. Download Programme. All of this slows business, drains the bottom line and means we need a better way. Up to 50% OFF Thousands of Deals on TVs, Laptops, Dishwashers, Loadshedding Solutions and more! These issues are generally related to the quality and capacity of electrical systems, which can be a product of insufficient generation or a generating mix that is unable to scale up and down to satisfy the fluctuations in demand. FinTech has the potential to disrupt the traditional financial and banking services set up. This policy considers blockchain only in terms of its cryptocurrency version, while it leaves many of its other applications open. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". [Photo/IFU]A QR Code verification for Each Certificate. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. This has made Africa a perfect fit for the adoption of both blockchain technology and cryptocurrencies to solve some of the challenges such as financial inclusion, and cheaper and faster transactions. Join us at Africas leading blockchain and cryptocurrency conference, the 8th edition of the Blockchain Africa Conference. The University has said it will issue blockchain-based certificates to students graduating from the learning institution starting this year. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The 8th CSIR Biennial Conference takes place on 2-3 November 2022 in Pretoria and will provide insight into the role blockchain can play in the South African economy. The data block can record the information of your choice: who, what, when, where, how much and even the condition such as the temperature of a food shipment. Online (In partnership with Higher Ed Partners SA), Faculty of Engineering & the Built Environment, Division for Institutional Planning, Evaluation and Monitoring, Commercialisation and Technology Transfer, Division of Academic Planning, Quality Promotion and Academic Staff Development, Institute for Pan-African Thought and Conversation. These consortiums help drive efficiencies, cut costs and improve customer experience. The ICO market grew very rapidly during 2017 and has been a new avenue for blockchain based start-ups and projects to get the funding needed to launch their projects. (adsbygoogle = window.adsbygoogle || []).push({}); window._taboola = window._taboola || []; What blockchain benefits do we need to test for our context? Blockchain technology in University degrees However, the University of Johannesburg, A university-based in South Africa, has induced blockchain technology in The country has launched an AI, Blockchain based task force to implement Blockchain technology into the countrys economic framework. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. We view Blockchain as potentially the most transformative technology innovation since the internet. The Cardano Foundation is focused on driving adoption and utilization of the Cardano blockchain. Aga Khan University addresses health issues among youth in Kenyas coastal region, Kenyan university launches robotics, embedded, systems and digital lab, AfDB, Japanese University partner for Africas growth, Kaspersky: 38% of industrial computers in Africa attacked by malicious objects, Zanzibar digital revolution key to blue economy prosperity, Kenya: Safaricom announces commercial launch of 5G services, Defying the Odds: Africa investment growth on a high post-Covid-19, Ghana to host the 2022 African Development Bank Group Annual Meeting, Africas fashion industry embracing technology. Ian currently holds the title of Head DLT/ Blockchain in the Innovation team at Standard Bank. South Africa has the most developed financial system in the entire Africa. According to him, university graduates have been using the digital certificate system to digitally access or share their certificates with possible employers. South Africa and the African Union (AU) as a whole, therefore, have a substantial stake in ensuring that blockchain is optimally regulated. However, the Blockchain technology is seeing steady growth in African countries like South Africa, Kenya, Nigeria and Rwanda among others. Tinus van Zyl, the senior director of central academic administration at the University, explains that the blockchain-based system improves the digital certificate system that the University of Johannesburg introduced some time ago. With smart power grids, authorities can identify what tools and devices are needed to bring the power grid back to its efficient working condition and operations back to normal. The Blockchain Research Institute Africa (BRI Africa) is an African think-tank launched by Standard Bank Group in partnership with the Blockchain Research Institute. It is important to note that public blockchain networks can also be permissioned. South Africa is a key market in building a network of governments, This is a balancing act, and a set of strong voices for the global Souths interests are a necessary ingredient in the formulation of such a regulatory framework. Learn how Golden State Foods is using the immutability of blockchain to trace goods through its supply chain and help ensure food quality. The decision comes amid a significant number of cases of digital asset fraud in South Africa. Blockchain defined: Blockchainis a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. What are the right blockchain initiatives to start with? 2010 Many skeptics are beginning to wonder if the year of blockchain will ever really arrive. WebBlockchain is a distributed ledger containing transactions, digital records or events that is replicated across several computers that are assembled in a peer to peer network. Ian has worked in various areas and functions in the Bank working across the group in many African countries as well as internationally. It does not store any personal data. Africa is an intriguing market when it comes to Blockchain technology, because of the lack of infrastructure and undeveloped sectors. Refer to the theme documentation for help. This renders the blockchain tamper-evident, delivering the key strength of immutability. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. As the role of the board is to discuss, review, and ultimately approve overall strategy, how can the board engage in constructive conversations about the potential strategic fit of cryptocurrencies? The researchers highlighted several benefits accruing from their trials of blockchain and tokenization in the South African banking sector: They singled out tokenization as one way to improve trading and enable real-time settlement of securities. If you want to be a part of an important dialogue around this technology and its future in South Africa, register for the CSIR conference here. He also performs in the role of Training Officer for the CA Graduate Training Program. Here at The Exchange Africa, we sensitize traders on signs to look out for that could potentially be a scam plot. While its a positive thing that electricity access in developing countries is gradually increasing, households connected to the grid usually receive poor quality and unreliable service. Removing complexity from global supply chains, blockchain and other distributed ledger technologies (DLTs) can facilitate greater trust and transparency among stakeholders and customers, helping to support the automation of administrative and commercial processes. Consensus on data accuracy is required from all network members, and all validated transactions are immutable because they are recorded permanently. BRI Africa provides member organizations with in-depth research exploring the opportunities, challenge and implementation hurdles of blockchain in their industry, as well as the impact of technology on corporate management. to help clients from an initial idea to proof-of-concept, and lastly, to enterprise-ready implementations. One million Africans are set to benefit from emerging digital training organized by the United Africa Blockchain Association (UABA). WebLocal Blockchain projects seem to be the future and as more and more entrepreneurs rise to the occasion, Blockchain is set on an amazing path in South Africa. As of today, a majority of a CFO's engagement with the technology comes in the payments and banking sector as blockchain-based cryptocurrenciessuch as Bitcoingain traction. For a more detailed look at how a blockchain network operates and how you can use it, read Introduction to distributed ledgers. The Blockchain Academy provides training and consulting on cryptocurrencies and blockchain technology world-wide. Why not! To do this, SANBA drives proof-of-concept blockchain projects that demonstrate the unique value proposition of the technology. The outcome is a deeper understanding of blockchain's feasibility for your business, and a platform from which to buildtomorrow'ssolutions. In addition to the Blockchain Africa Conference, the country also has a Blockchain Academy in Cape Town, which provides access to specialized training in terms of crypto and Blockchain technology. The Home Depot is using IBM Blockchain to gain shared and trusted information on shipped and received goods, reducing vendor disputes and accelerating dispute resolution. Although, Blockchain in Africa has not come as close to what the Blockchain Technology is in Asia, North America, and Europe. Ultimately, the workshop leads to tangible next-steps to address real business problems using blockchain. A report by Chainalysis indicates that crypto scammers and fraudsters stole over US$14 billion in 2021. The value of the African cryptocurrency market increased by more than 1,200% between July 2020 and June 2021, with high adoption in Kenya, South Africa The adoption of blockchain technology in the African education system will halt this production of fake certificates and return the quality of the certificates issued in Africa. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. No legitimate traders or companies use comments to promote themselves. South Africa; When it comes to Blockchain friendly countries, South Africa has been home to a few of the interesting Blockchain projects. Each additional block strengthens the verification of the previous block and hence the entire blockchain. This cookie is set by GDPR Cookie Consent plugin. All rights reserved. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. }); Banking The country also hosts a Blockchain conference, known as Africa Blockchain Conference. This website uses cookies to improve your experience while you navigate through the website. Blockchain is distinct from bitcoin, which is merely one application of the technology. Such a policy will require cognisance of the national and transnational benefits as well as a mitigation of the downsides, while leaving room for agility as new factors emerge. Blockchain creates trust because it represents a shared record of the truth. These pre-selected organizations determine who may submit transactions or access the data. The public can now validate the awarded qualifications for University of Johannesburg graduates without contacting the University or going through a verification agency, just by scanning the QR code on the certificate and best of all, at no cost, Van Zyl stated. At the end of the day, they will buy their way to first-class degrees and distinction certificates. placement: 'Right Rail Thumbnails', Be inspired by how innovators are transforming their businesses using the IBM Blockchain Platform. Southern Africa Learn how our clients are revolutionizing their organizations by using IBM Blockchain to gain tangible business outcomes. A QR Code verification for Each Certificate, The adoption of blockchain technology in the African education system will halt this. The challenge has been acknowledged by the South African Reserve Bank (SARB) in its position paper on virtual currencies issued in 2014. Supply chain [Photo/The defiant]A report by Chainalysis indicates that crypto scammers and fraudsters stole over US$14 billion in 2021. Scepticism around cryptocurrency in South Africa is understandable, but its potential benefits cannot be ignored. Different financial institutions have time and again shown great interest in technology and its adoption. But thanks to South Africas fast-growing blockchain industry and growing interest from investors. Limited transparency can slow data verification. Scrum Master, Blockchain and Innovation Team, Standard Bank Group; Main Contact, BRI Africa. Despite being a work-in-progress innovation, blockchain technology has a lot to offer to the world. Removing complexity from global supply chains, blockchain and other distributed ledger technologies (DLTs) can facilitate greater trust and transparency among WebThe South African Institute of Blockchain Practitioners facilitates positive change in the blockchain ecosystem. De Jager told MyBroadband that while cryptocurrency is challenging to use physically, it is great for digital transactions as it is a fast, cheap, and programmable method of making and receiving payments. To learn more about Megatech, visit their Website | Twitter | Telegram |, TheBitcoinNews.com Bitcoin News source since June 2011 . It also hosts one of the biggest Blockchain conventions every year in Johannesburg. The North African countries have absolute bans, while the Kingdom of Lesotho has an implicit ban. Day 2. Calvaria Play to Earn Battle Card Game Blasts Past $1.9 Million Raised Next Crypto to Explode? De Jager will explain how this risk necessitates creating a new approach to regulation to ensure the industry flourishes. WebSave Traders Fair 2023 - South Africa, Johannesburg (Financial Event) to your collection. The latter is due to blockchain technology, which has come into mainstream attention in the past decade. We bring together Africas top industry leaders, academics, policy-makers, entrepreneurs and researchers to undertake ground-breaking research on blockchain technology and to bridge the gap between the technological functionality of blockchain and the real market need. Depending on the use case, this can significantly boost trust and confidence between participants. Please enter your username or email address to reset your password. We leverage our global network - including a use-case library, and specialist blockchain teams. According to The Standard Bank and Crypto Valley Venture Capital (CV VC), African Blockchain Report revealed South Africa to be one of the top five largest fundraised for new blockchain ventures in Africa in 2021, with US$18.89 million raised to fund five blockchain and cryptocurrency companies. Due to COVID-19 and travel restrictions, the conference was hosted as a virtual event and not in Johannesburg, South Africa. By linking in government, academia, the private sector and civil society, it creates a pre-competitive space for research, The 8th CSIR Biennial Conference takes place on 2-3 November 2022 in Pretoria and will provide insight into the role blockchain can play in the South African While the growing population has spurred the demand for Halal food, there is persistent stress in Sat 11 Dec 2021 12h15 3 min read by Rudy Bauer. Drawbacks might include substantial computational power required, little or no privacy for transactions, and weak security. These include the flow of remittances within the continent and from other regions among the unbanked, the enabling of innovation and money laundering, improper election funding, terrorism-sponsoring, and other illicit financial flows. For South African and African policymakers, we suggest that there are at least five ways blockchain impacts national and continental priorities as set out in Agenda 2063. Date: Jun 1, 2021 | 4th Industrial Revolution, News, Opinion Pieces, By: Dr Bhaso Ndzendze and Professor Tshilidzi Marwala. As CoinPoint is a multinational premium digital marketing agency, with an outstanding portfolio of successful campaigns since 2013, the agency held up multiple Blockchain startups. The above is a perfect case to display its positive impacts on the environment and the lives of everyone, especially in South Africa. Bitcoin is an unregulated, digital currency. Another African country which has shown interest and has seen considerable growth in its Blockchain community in Nigeria. Education Rates South Africa to develop cryptocurrency regulation in 2022. How can we build on the learning from other blockchain innovators? This system, also known as the decentralised ledger, is therefore useful in peer-to-peer payment, hence its application in cryptocurrencies such as Bitcoin, Ethereum, and hundreds of others that have come into the fore in the past several years. She also participates in the Blockchain Centre of Excellence in Innovation as a Service initiatives across the group. This poses a serious threat to national economic sustainability as it leads to shrinking revenues. The emerging technology has slowly but steadily made its way to Rwanda as well. Read: AfDB, Japanese University partner for Africas growth, I am a journalist who is an enthusiastic tech, business and investment news writer from across Africa. WebSANBA drives blockchain adoption in South Africa. Yushika is BRI Africas main contact andthe Scrum Master for the Blockchain Innovation team at Standard Bank of South Africa. Transformations in production and connectivity are defining the ongoing fourth industrial revolution (4IR). This video illustrates the distinction between the two. At the same time, however, blockchain has been used to facilitate transnational money-laundering. More than 1,600 blockchain experts use insights from 100+ live networks to help you build and grow. The first field, called project Beta, is a 60MW solar farm and will include 100MWh of state-of-the-art storage technology to ensure maximum profitability and the opportunity to sell green renewable energy at peak rates to blue-chip listed entities; that have already signed commitments for offtake. Dr Bhaso Ndzendze is HOD and Senior Lecturer, Department of Politics and International Relations, UJ. Another African country which has shown interest and has seen considerable growth in its Blockchain community in Nigeria. She began her career at Standard Bank in 2005 Since 2018, the South Africa Reserve Bank has been spearheading a project to research potential use cases for blockchain technology in the financial system. Confidently. Between July 2020 and June 2021, cryptocurrency adoption in Africa grew by over 1,200%, making it one of the fastest-growing continents in terms of adoption. With blockchain, as a member of a members-only network, you can rest assured that you are receiving accurate and timely data, and that your confidential blockchain records will be shared only with network members to whom you have specifically granted access. We will help you determine where you need to focus your attention and what you shouldnt forget, from initiation to completion and beyond - building trust from day one. Funded by a membership consisting of international corporations and government agencies, the BRI Africa program is founded on 100+ research projects documenting the strategic implications of blockchain on business, government and society. The faster its received and the more accurate it is, the better. The ledger is greatly secured as a result. These are important considerations for enterpriseuse casesof blockchain. In addition to this, he will explain how the CSIR is at the forefront of ensuring cryptocurrency is a secure means of transaction in South Africa and how it is building software to prevent and punish offenders. Africa is not only a Crypto continent but an international driver in the utilization of blockchain as a transformative technology for humanity. Why blockchain is important: Business runs on information. The cookies is used to store the user consent for the cookies in the category "Necessary". By clicking Accept All, you consent to the use of ALL the cookies. Multiple organizations can share the responsibilities of maintaining a blockchain. Cryptocurrency adoption in Africa is on the rise, and the number of traders in the continent is increasing exponentially. You can join an existing blockchain network or work with us to create your own. Financial services Bankymoon is a software and consulting firm with expertise in Blockchain technologies. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. IT spend in South Africa is forecast to increase at a higher pace than the economy in 2020. Imagine being able to transfer value or prevent contractual disputes over the Internet-without going through a third party. The Bitcoin News Blockchain and Bitcoin News, South Africa Is Quickly Becoming The Center For Blockchain Startups In Africa, Tutorial: How to set up a Bitcoin Full Node, Cozy Web3 Movement: Cozies announces minting of Cozies NFTs for October 10th, USDD Announces Cash Prize Giveaway with Travala, 5 Cryptos To Buy Today: Dogecoin (DOGE), Big Eyes (BIG), Orbeon (ORBN), EverGrow Coin (EGC), Solana (SOL), Tezos (XTZ) and Cardano (ADA) Prices Down 125% Price Surge For Orbeon Protocol (ORBN) Presale, BinaryX Releases Concept Art for World Building MMO CyberLand. Our current program introduces new deliverables in addition to our research, designed to help our members not just navigate the blockchain revolution, but lead it. In its 2016 report on determining when a society can be said to be in the 4IR, the World Economic Forum (WEF) set the threshold of 10% of revenue being in cryptocurrency. Corporate Subscriptions He is a blockchain evangelist and has spent the last two years focusing on this technology. WebThe South African Institute of Blockchain Practitioners facilitates positive change in the blockchain ecosystem. Students in Africa, specifically those from high-end backgrounds, have become very lazy! What are the risks of going live with a blockchain solution? Our ground-breaking multi-million-dollar research program is funded by our members, which include leading corporations and governmental agencies around the world. This is why the technique is known as a general-purpose technology (GPT). Securely. Travel and transportation (PDF, 340 KB). Orbeon Protocol (ORBN), Flow (FLOW), and Fantom (FTM): Which Will Grow More In 2023? South African National Blockchain Alliance. Keep up to date with the latest from BRI - research, books, webinars, events, and initiatives - as well as headlines and trends from our global community and the broader blockchain ecosystem, Blockchain Revolution in Financial Services. First, it has a distributed database. With this shared ledger, transactions are recorded only once, eliminating the duplication of effort thats typical of traditional business networks. Day 1. We continue to see banks, brokerages, insurers, regulators, and others actively testing ways to harness the benefits of blockchain. The country host Transform Africa Summit which works on accelerating the digital market in Africa and have brought together thousands of, Classified Information on Free Internet Only the Pros Know Exist, Human Error And Phishing Attempts Continue To Be The Root Cause Of Many Data Breaches, The Demand for Secure Virtual Data Room Providers Is Growing in Volume, Make Sense of Industry Analysis with The data room Software, Board portals that present a new way of chances. Apart from these benefits, blockchain-based platforms focusing on solving environmental and energy problems are starting to emerge. The project proved that it was possible to replicate some of the functions of South Africas real-time gross settlement system at scale and speed using a standard messaging format, while maintaining confidentiality and privacy and providing visibility for both operational management and oversight, The delivery leg that transfers the security, and. Blockchain technology perhaps known best in its cryptocurrency incarnation is a system of recording information that allows for its storage and unchangeability. Even though the Central Bank of Kenya showed their concern over the Blockchain technology in Kenya, the government is keen about their interest in technology and wants to promote it. Since then, South Africa has been troubled by unpredictable, unplanned power outages that not only last for hours but days as well. Real crypto accounts will never send you a message on social media pages. And because members share a single view of the truth, you can see all details of a transaction end to end, giving you greater confidence, as well as new efficiencies and opportunities. Government The FSCA recently declared cryptocurrency an official financial product by defining it as a digital representation of value, so there has never been a more critical time to talk about the future of DLT and blockchain in South Africa. Third, the system is defined by transparency and pseudo-anonymity, which means that every node or user on the blockchain has a unique alphanumeric address which is at least 30 characters. The IBM Blockchain Platform is powered by Hyperledger technology. He collaborates and partners with specialists and organisations locally and internationally as well as Standard Bank teams to determine how this emerging technology can be leveraged best for enhanced efficiency and controls including focusing on new business models focusing on customer first. Read: Aga Khan University addresses health issues among youth in Kenyas coastal region. Early involvement is key to ensure that risks are appropriately addressed. We use our blockchain specialists and industry expertise spanning strategy, design thinking, economics etc. The report further explains that each qualification document given by the University of Johannesburg will have a QR code to verify its authenticity. WebBLOCKCHAIN. Kinta Burger, an employee at the institution, suggests that implementing the blockchain-based certificate system will safeguard the Universitys reputation and the certificates it issues. WebHere is a table of Blockchain Technology courses in South Africa along with the duration and cost of the course: Top Blockchain Technology Institutes in South Africa 1. Weekely Newsletter. Webthat provide Blockchain Services! Ian participated in the original SAP General Ledger implementation at Standard Bank and later became the Global CFO of the Global Markets business for the Corporate and Investment bank CIB where he spent a large part of his career and gained extensive local and international accounting, tax and regulatory experience. Blockchain is ideal for delivering that information because it provides immediate, shared and completely transparent information stored on an immutable ledger that can be accessed only by permissioned network members. On a global scale, more than 200 million homes and businesses are given inferior grid connections. The growth will be steadier with the partnership between Microsoft and WiseKey. The University is adopting the blockchain-based certification system as part of an attempt to prevent fraud in the counterfeit documents produced in the name of the institution. In the 2018 report, Can Blockchain Revolutionize International Trade? For instance, take Megatech. De Jager also noted that cryptocurrency is permissionless and therefore gives innovative and ambitious programmers the ability to experiment with it a degree of accessibility and control not found in traditional financial sectors. The country host Transform Africa Summit which works on accelerating the digital market in Africa and have brought together thousands of financial companies, Blockchain experts, AI firms, Banks and government representatives. Almost instantly. Investing One great example would be blockchain. Contact us Sandton, South Africa. You can watch an introduction to what will be discussed at the event in the video below. A consortium blockchain is ideal for business when all participants need to be permissionedand have a shared responsibility for the blockchain. Tracing fresh seafood from the moment its caught, Improving cryptocurrency security in financial services, Transforming healthcare outcomes with blockchain, Fresh thinking in blockchain, AI and IoT for supply chain, Fueling innovation in the oil and gas industry, Increasing trust in retailer-supplier relationships, See our fast-growing blockchain solutions, Learn more from the blockchain tutorial on IBM Developer, Register to download the IBM Blockchain Platform white paper, Visit the Hyperledger page on IBM Developer, View the quick-start guide for developers, Hyperledger, hosted by the Linux Foundation, Ten steps to your first blockchain application. About us According to a comprehensive study by the Law Library of Congress in the United States, as of 2019, there were 25 states with implicit and explicit bans on cryptocurrency including China, Saudi Arabia and the United Arab Emirates. Collaborative technology, such as blockchain, creates challenges for executives, management, regulatory bodies and assurance providers. In response we have identified 5 categories for consideration during a blockchain implementation and operation: This governance, risk and controls framework has been tailored to help organisations understand and identify their blockchain risks across these key categories. South Africa and the African Union (AU) as a whole, therefore, have a substantial stake in ensuring that blockchain is optimally regulated. Weve developed the strategic and implementation capabilities necessary to help organisations take advantage of this transformative technology. Ultimately, blockchain is a complex technology that has the potential to powerfully disrupt many aspects of how businesses and economies work; even how societies are organised. WebA blockchain network can track orders, payments, accounts, production and much more. But opting out of some of these cookies may affect your browsing experience. Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved. Since the CSD is the single source of truth, everyone in the system has to reconcile their databases to march the CSDs, which according to the officials, causes duplication of data, which causes inefficiencies, higher cost, and complexities. The current system relies on a central securities depository (CSD) which acts as a single source of truth for recording and determining ownership of securities. Uganda Blockchain Entrepreneurs Club South Africa (BECSA) BECSA is part of Blink, blockchain events, an education startup. All rights reserved. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Gordon Institute of Business Science, Sandton 5. Blockchain Academy, Capetown 2. Lyle Horsley Divisional Head of the Fintech Unit at the South African Reserve Bank (SARB), Gerhard Van Deventer Senior Fintech Analyst in the Fintech Unit of the South African Reserve Bank (SARB), focusing on financial markets innovation and the impact of distributed ledger technologies on financial markets, Greater access to data for regulators depending on the network design, Project Khokha, Phase 1, investigated how a wholesale CBDC (central Bank Digital Currency) could be used for inter-bank payments and settlements. A public blockchain is one that anyone can join and participate in, such as Bitcoin. Megatech is an alternative energy supply company that uses blockchain to solve real-world problems. Enterprises University of Pretoria, Pretoria 4. However, the University of Johannesburg, A university-based in South Africa, has induced blockchain technology in its system to help counter the last setback. In a trust less environment since 2009, bitcoin has proven blockchain to be secure and resilient. VALR is a blockchain-based project out of South Africa. WebBLOCKCHAIN. Embracing an IBM Blockchain solution is the fastest way to blockchain success. Were proud to have partners that are committed to driving innovation and entrepreneurship in the blockchain space. Blockchain is one tool to consider when contemplating digital transformation. Please enter your email address. The internet changed the way we share information. To display trending posts, please ensure the Jetpack plugin is installed and that the Stats module of Jetpack is active. Typically, at least four should hold true for blockchain to be an appropriate solution: We have created a process that brings together executives, product owners, risk and regulatory specialists, business unit leaders, startups/emerging blockchain companies and strategy influencers in small, focused management workshops to identify the most appropriate blockchain actions for your organisation. A private blockchain network, similar to a public blockchain network, is a decentralized peer-to-peer network. You consent to record the user consent for the blockchain Academy provides Training and consulting firm with in! Record reconciliations are eliminated energy problems are starting to emerge very lazy and governmental around. Operate a successful digital token and ICO, you consent to record the consent! Kenya, Nigeria and Rwanda among others attention in the continent, these are,! 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